Home sales edge higher in september 2011

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British Columbia home sales edges higher in September 2011.

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Home sales edge higher in september 2011

  1. 1. For immediate release Home Sales Edge Higher in September Vancouver, BC – October 14, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 8.8 per cent to 5995 units in September compared to the same month last year. The average MLS® residential price increased 6 per cent to $523,568 last month compared to September 2010. “MLS® home sales edged up 3 per cent in MLS® Residential Sales September compared to August on a seasonally adjusted basis,” said Cameron Muir, BCREA British Columbia Units Chief Economist. “Housing demand last month 10,000 Seasonally Adjusted was bolstered by persistent low mortgage interest 9,000 8,000 rates and a surge in employment.” 7,000 6,000 “Despite a modest gain in unit sales, total active 5,000 residential listings in the province remained 4,000 elevated in September,” added Muir. A total of 3,000 2005 2006 2007 2008 2009 2010 2011 55,616 homes were listed on the MLS® in the Source: BCREA Economics province at the end of September. Year-to-date, BC residential sales dollar volume increased 17.5 per cent to $34.8 billion, compared to the same period last year. Residential unit sales increased 3.2 per cent to 61,127 units, while the average MLS® residential price rose 13.9 per cent to $569,922 over the same period. -30- For more information, please contact: Cameron Muir Damian Stathonikos Chief Economist Director, Communications and Public Affairs Direct: 604.742.2780 Direct: 604.742.2793 Mobile: 778.229.1884 Mobile: 778.990.1320 Email: cmuir@bcrea.bc.ca Email: dstathonikos@bcrea.bc.ca For detailed statistical information, contact your local real estate board.1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6President Rick Valouche | Vice President Jim McCaughan | bcrea@bcrea.bc.ca | 604.683.7702 (tel)Past President Moss Moloney | Chief Executive Officer Robert Laing | www.bcrea.bc.ca | 604.683.8601 (fax)
  2. 2. Home Sales Edge Higher in September . . . Page 2 September 2011 Residential Average Price, Active Listings and Sales-to-Active-Listings Data by Board Average Price Active Listings Sales-to-Active-Listings September September September September September September 2011 2010 2011 2010 2011 2010 Board % change Residential Residential % Residential Residential Residential Residential Active Active change Sales to Active Sales to Active Average Price Average Price Listings Listings Listings Listings ($) ($) (Units) (Units) (%) (%)BC Northern 215,215 200,140 7.5 3,047 2,943 3.5 12.0 11.5Chilliwack 304,913 289,209 5.4 1,887 1,360 38.7 8.3 10.1Fraser Valley 489,420 444,997 10.0 8,489 6,939 22.3 13.1 13.9Greater Vancouver 751,042 679,381 10.5 17,206 16,522 4.1 13.4 13.6Kamloops 290,706 316,974 -8.3 2,178 2,000 8.9 8.7 9.4Kootenay 285,725 257,413 11.0 3,386 3,102 9.2 6.4 6.1Okanagan Mainline 375,593 401,982 -6.6 6,524 6,407 1.8 6.9 6.3Powell River 211,311 193,077 9.4 263 224 17.4 9.9 11.6South Okanagan 299,410 291,587 2.7 2,113 2,147 -1.6 5.8 4.8 Northern Lights 197,226 181,449 8.7 320 322 -0.6 18.4 11.2Vancouver Island 332,741 319,531 4.1 6,192 6,031 2.7 9.2 8.2Victoria 493,522 485,459 1.7 4,011 3,436 16.7 10.9 11.0Provincial Totals* 523,568 493,846 6.0 55,616 51,433 8.1 10.8 10.7 *Numbers may not add due to rounding September 2011 BC Residential Multiple Listing Service® Data by Board Dollar Volume (000s) Units September 2011 September 2010 September 2011 September 2010 Board Residential Sales Residential Sales % change Residential Sales Residential Sales % change ($) ($) (Units) (Units) BC Northern 78,554 67,647 16.1 365 338 8.0 Chilliwack 47,568 39,622 20.1 156 137 13.9 Fraser Valley 542,767 430,312 26.1 1,109 967 14.7 Greater Vancouver 1,726,646 1,531,324 12.8 2,299 2,254 2.0 Kamloops 55,234 59,908 -7.8 190 189 0.5 Kootenay 62,002 48,394 28.1 217 188 15.4 Okanagan Mainline 167,890 161,597 3.9 447 402 11.2 Powell River 5,494 5,020 9.4 26 26 0.0 South Okanagan 36,827 30,034 22.6 123 103 19.4 Northern Lights 11,636 6,532 78.1 59 36 63.9 Vancouver Island 188,997 157,209 20.2 568 492 15.4 Victoria 215,176 183,989 17.0 436 379 15.0 Provincial Totals* 3,138,791 2,721,587 15.3 5,995 5,511 8.8 * Numbers may not add due to rounding **NOTE: The Northern Lights Real Estate Board (NLREB) became part of the South Okanagan Real Estate Board (SOREB) on January 1, 2011. 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 President Rick Valouche | Vice President Jim McCaughan | bcrea@bcrea.bc.ca | 604.683.7702 (tel) Past President Moss Moloney | Chief Executive Officer Robert Laing | www.bcrea.bc.ca | 604.683.8601 (fax)
  3. 3. Home Sales Edge Higher in September . . . Page 3 September 2011 Year-to-Date BC Residential Multiple Listing Service® Data by Board Dollar Volume (000s) Unit Sales Average Price Board % % % 2011 2010 2011 2010 change 2011 2010 change change ($) ($) ($) ($)BC Northern 665,662 628,283 5.9 3,028 2,944 2.9 219,836 213,411 3.0Chilliwack 484,615 503,610 -3.8 1,616 1,638 -1.3 299,886 307,454 -2.5Fraser Valley 5,967,440 5,046,812 18.2 11,779 11,191 5.3 506,617 450,971 12.3Greater Vancouver 20,956,066 16,224,999 29.2 26,482 24,276 9.1 791,332 668,356 18.4Kamloops 499,660 528,299 -5.4 1,643 1,718 -4.4 304,114 307,508 -1.1Kootenay 404,828 444,218 -8.9 1,493 1,610 -7.3 271,151 275,912 -1.7Okanagan Mainline 1,454,636 1,537,869 -5.4 3,803 3,900 -2.5 382,497 394,325 -3.0Powell River 55,484 53,186 4.3 247 222 11.3 224,630 239,578 -6.2South Okanagan 323,611 358,183 -9.7 1,051 1,108 -5.1 307,907 323,270 -4.8 Northern Lights 76,502 77,586 -1.4 366 370 -1.1 209,022 209,691 -0.3Vancouver Island 1,670,292 1,750,536 -4.6 5,084 5,308 -4.2 328,539 329,792 -0.4Victoria 2,278,815 2,492,337 -8.6 4,535 4,943 -8.3 502,495 504,215 -0.3Provincial Totals* 34,837,609 29,645,918 17.5 61,127 59,228 3.2 569,922 500,539 13.9 * Numbers may not add due to rounding BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe). To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build communities with good schools and safe neighbourhoods. For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale. 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 President Rick Valouche | Vice President Jim McCaughan | bcrea@bcrea.bc.ca | 604.683.7702 (tel) Past President Moss Moloney | Chief Executive Officer Robert Laing | www.bcrea.bc.ca | 604.683.8601 (fax)

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